Oireachtas Joint and Select Committees
Tuesday, 5 December 2023
Joint Oireachtas Committee on Housing, Planning and Local Government
General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion
Mr. Patrick Davitt:
It depends on the bank the approval is from but that may prove the Senator can buy the property. We do not sell the property ourselves. While we do the processing, at the end of the day, it is the vendor who accepts the person to buy the property. If we go back to the vendor and tell him or her that the Senator has put in an offer of €350,000 and can prove he has the funds, that is well and good. If the vendor had no other bidders, he or she would obviously accept that offer. If he or she had a cash bidder, he or she might choose that bidder because things would happen more quickly. That is the process. An agent would know very quickly whether the purchaser could buy the property or not.
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